Collection Deposit Account definition

Collection Deposit Account means a lockbox account of a Grantor maintained for the benefit of the Secured Parties with the Collateral Agent or with a Sub-Agent pursuant to a Lockbox and Depository Agreement.

Collection Deposit Account has the meaning assigned to such term in the Security Agreement.

Collection Deposit Account means (a) any Program Deposit Account and (b) any other Deposit Account that is not an Approved Deposit Account to which Accounts or the Proceeds thereof are paid or credited and, in each case of clauses (a) and (b) above, that is maintained by any Loan Party with a Deposit Account Bank. “Collection Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

Examples of Collection Deposit Account in a sentence

• Each Grantor shall use all reasonable efforts to cause each Account Debtor and every other Person identified in the preceding sentence to make all payments with respect to the Accounts included in the Collateral directly to such Collection Deposit Account.

• No Grantor shall thereafter have any right or power to withdraw any funds from any Collection Deposit Account or the Cash Concentration Account without the prior written consent of the Collateral Agent.

• Each financial institution with which a Collection Deposit Account is maintained is referred to herein as a “Collection Deposit Bank”.

• Each Grantor hereby agrees to irrevocably direct each Sub-Agent to comply with the instructions of the Collateral Agent with respect to each Collection Deposit Account without further consent from the Grantor or any other Person.

• Upon the commencement and during the continuance of any Cash Dominion Period, all funds deposited into any Collection Deposit Account shall be directed by wire transfer on a daily basis to the Administrative Agent Account.

More Definitions of Collection Deposit Account

Collection Deposit Account includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

Collection Deposit Account means each collection deposit account maintained by the Borrower and the Subsidiary Guarantors pursuant to a Collection Deposit Letter Agreement (and prior to the execution of a Collection Deposit Letter Agreement with respect to such account, any other collection deposit accounts maintained by the Borrower and the Subsidiary Guarantors) into which the Borrower and the Subsidiary Guarantors will deposit all Daily Receipts.

Collection Deposit Account as defined in Section 5.17(a).

Collection Deposit Account means each Collection Deposit Account established pursuant to the Collection Bank Agreement.

Collection Deposit Account means a lockbox account of a Grantor maintained for the benefit of the Secured Parties with the Collateral Agent pursuant to Article V or with a Sub-Agent pursuant to a Lockbox Agreement.

Collection Deposit Account means, individually and/or collectively as the context may require, any U.S. Collection Deposit Account, any Canadian Collection Deposit Account, and any European Collection Deposit Account.

Collection Deposit Account means, individually and/or collectively as the context may require, the U.S. Collection Deposit Account and the Canadian Collection Deposit Account.